Venezuela Ratifies ‘Anti-blockade’ Law Aimed at Helping Oil Sector

 Venezuela's Socialist party-controlled National Assembly on Thursday ratified an "anti-blockade" law, as President Nicolas Maduro seeks to attract private investment to boost the OPEC nation's struggling economy despite U.S. sanctions. The law, which applies to the country's key oil sector, allows companies to sign deals confidentially to avoid being sanctioned themselves. "This constitutional law aims to establish... Continue Reading →

Petrobras on record sales of S-10 Diesel

Petróleo Brasileiro S.A. –  Petrobras informs that in April it registered total diesel sales of around 824,000 bpd, representing 59% growth in comparison with sales in April 2020. In the comparison with April 2019, without the impacts on demand resulting from the pandemic, there was a growth of 12%. Also in April 2021, Petrobras exceeded... Continue Reading →

Sonadrill Nets 12-well Drillship Contract in Angola

Angolan offshore drilling firm Sonadrill, the 50:50 joint venture between Seadrill and an affiliate of Sonangol, has secured a twelve-well contract in Angola for the Sonangol Quenguela drillship. The contract includes one option for nine wells and eleven one well options, Seadrill said Friday. Total contract value for the firm portion of the contract for... Continue Reading →

Petrobras Financial Performance in 1Q21

Petrobras posted solid financial and operating results in 1Q21. Regarding 1Q21 results, Petrobras’ CEO Joaquim Silva e Luna made the following comments: “The figures show the capacity of our team to deliver sustainable results to our investors and to society, even in a challenging environment. Petrobras will continue down the path of value generation, with... Continue Reading →

Eni to splash €5.7 bln by 2024 in carbon-neutrality push

Italian oil and gas company Eni has released its Eni for 2020 sustainability report, outlining the company’s path to face the global challenges. The company noted its total amount for investments in decarbonization, circular economy and renewables and expenditure on research and development is equal to €5.7 billion in its 2021-24 plan. Eni reminded that The 2030 Agenda... Continue Reading →

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